Payment. Your broker or planner should spell out whether they are charging you by commission only, a flat fee, a percentage of assets, or another method. If they haven’t that’s a red flag, Thakor adds.

Performance. A good adviser or broker should send you regular (monthly or quarterly) statements so you know exactly where you stand. If they’re not, that’s also cause for concern.

Money is so emotional, it’s easy to get attached to a planner regardless of whether they’re actually helping you. Focus on the bottom line to figure out when to cut ties.

Walk away. How would you describe your relationship with your financial planner?